Pitchfork Economics with Nick Hanauer

Even when our nation's prosperity was most broadly shared in the 1950s and 1960s, Black people and other communities of color were purposefully denied the shared prosperity that white families enjoyed. And because inclusion drives economic growth, excluding anyone from the economy is bad for all of us. Jeremie Greer, Liberation in a Generation’s co-director, explains how racism is profitable under our current economic system, and breaks down how we can build a Liberation Economy that truly includes—and benefits—everyone.Jeremie Greer is the Co-Founder and Co-Executive Director of Liberation in a Generation, a national movement-support organization, building power for POC and demanding a Liberation Economy. Twitter: @liberation_gen, @JeremieGreerLiberation in a Generation https://www.liberationinageneration.org Racism is Profitable Podcast https://www.liberationinagenerationaction.org/podcast The Road to Zero Wealth https://ips-dc.org/report-the-road-to-zero-wealth Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Ten years ago, Nick was called "near insane" for saying that substantially raising the minimum wage would create jobs. In retrospect, it seems obvious: After all, if no one has any money, who will buy all the stuff? Researchers at University of California, Berkeley have found more data to support this theory in a first-of-its-kind study on the effects of the $15 minimum wage. Michael Reich, one of the economists who worked on this exciting report, shares his findings with us.Michael Reich is Professor of Economics and Chair of the Center on Wage and Employment Dynamics (CWED) at the Institute for Research on Labor and Employment (IRLE) of the University of California at Berkeley.Twitter: @IRLEUCBHigh Minimum Wages and the Monopsony Puzzle https://irle.berkeley.edu/publications/working-papers/high-minimum-wages-and-the-monopsony-puzzleNew Study Finds a High Minimum Wage Creates Jobs https://nymag.com/intelligencer/2023/05/new-study-finds-a-high-minimum-wage-creates-jobs.htmlWebsite: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

We learn in grade school that American citizens are endowed with certain inalienable rights, but basic necessities like housing and education aren’t protected by the Constitution. Imagine how different this country might be if affordable health care and guaranteed employment were included in our Bill of Rights. That’s the vision that economist Mark Paul outlines in his new book, The Ends of Freedom. Mark Paul is an assistant professor of economics at the Bloustein School of Planning and Public Policy at Rutgers University. His research and writing have appeared in the New York Times, Economist, Washington Post, Nation, American Prospect, and Financial Times, among other publications.Twitter: @MarkVinPaulThe Ends of Freedom https://press.uchicago.edu/ucp/books/book/chicago/E/bo195791875.html Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

At the core of middle-out economics is the idea that the more people we include in the economy, the faster and more prosperous it grows. And this inclusionary principle isn’t something we just made up—there’s actual data to support it. Our conversation with JP Julien from McKinsey and Company outlines what inclusion can mean in the context of an economy that works for everyone.This episode originally aired on July 6, 2021.JP Julien is a Partner at McKinsey & Company, where he serves US federal, state, and city governments on inclusive economic-development topics and supports private-, public-, and social-sector organizations in advancing racial equity. He is a leader of the McKinsey Institute for Black Economic Mobility, a global economic think tank focused on inclusive economic development and racial equity topics.Twitter: @McKinseyThe case for inclusive growth: https://www.mckinsey.com/industries/public-and-social-sector/our-insights/the-case-for-inclusive-growthWebsite: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Economist and philosopher Erik Angner believes economics can be a powerful tool for positive change. He discusses the need to rethink traditional economic approaches to address global challenges, advocating for a $15 minimum wage and emphasizing moral considerations in policy-making. Through real-world examples like childcare accessibility, Angner illustrates how compassionate policies can alleviate the burdens of scarcity. He also highlights the role of inclusionary practices in strengthening the middle class, showcasing the potential for economics to create a better future.

This week we’re continuing our exploration into the ways that higher education contributes to America’s political, cultural, and economic divisions. Goldy chats with author Will Bunch about how our leaders almost established a university education as a public good, why the so-called “knowledge economy” has caused inequality to grow, and how we can possibly fix our educational divide.Will Bunch is a national opinion columnist for the Philadelphia Inquirer and author of several books. He has won numerous journalism awards and shared the 1992 Pulitzer Prize for spot news reporting with the New York Newsday staff.Twitter: @Will_BunchAfter the Ivory Tower Falls https://www.harpercollins.com/products/after-the-ivory-tower-falls-will-bunchBetter Public Schools Won’t Fix America https://www.theatlantic.com/magazine/archive/2019/07/education-isnt-enough/590611Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

Universities across America are still teaching an outdated, neoclassical way of economic thinking. The trickle-down curriculums taught in Econ 101 classrooms aren’t just bad for students—they have had disastrous, far-reaching effects on the economy. Decades of bad education has left students adrift: A new study from Rethinking Economics reveals that the majority of college students are critical of the US economic system, with a large majority believing it needs to change. Can we redesign economic curriculums to better reflect how the economy really works?Abigail Acheson is network coordinator and staff organizer with the US Rethinking Economics National Network. A recent graduate, Abigail is dedicated to revitalizing student organizing for curriculum change at universities. Nouhaila Oudija is a researcher and consultant at RE-USA. She recently published a research project about college students' attitudes around the US economic system and about the lack of diversity of thought in economics curricula.Twitter: @RethinkEcon_USA, @rethinkeconEconomics is Failing US College Students https://www.rethinkeconomics.org/2022/10/18/econ-failing-us-studentsWebsite: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

As Tax Day approaches in the United States, we’re revisiting our conversation with Gabriel Zucman, the authority on wealth taxes. For the last 40 years, trickle-down politicians have slashed tax rates on the rich, benefiting the wealthy few at the expense of the American middle class. Zucman explains how the rich manage to dodge taxes, and how we can fix this broken system.This episode originally aired on November 26, 2019.Gabriel Zucman is now Professor of Economics at the Paris School of Economics and Ecole Normale Supérieure – PSL, Associate Professor of Economics at the University of California, Berkeley, Director of the EU Tax Observatory, and Director of the James M. and Cathleen D. Stone Center on Wealth and Income Inequality at UC Berkeley.Twitter: @gabriel_zucmanThe Triumph of Injustice: https://wwnorton.com/books/the-triumph-of-injusticeThe Wealth Detective Who Finds the Hidden Money of the Super Rich: https://www.bloomberg.com/news/features/2019-05-23/the-wealth-detective-who-finds-the-hidden-money-of-the-super-richWebsite: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

One in five American workers has signed a noncompete clause. The FTC believes that the elimination of these clauses would generate extra job opportunities for 30 million workers and raise wages by $300 billion—a huge win for the average American worker. Economist Evan Starr shares findings from his new report on noncompetes and their enforceability in court, which uses data from our home state of Washington.Evan Starr is an Assistant Professor of Management & Organization at the Robert H. Smith School of Business at the University of Maryland. He received a Ph.D. in economics from the University of Michigan. Twitter: @evanpstarrDo Firms Value Court Enforceability of Noncompete Agreements? https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4364674 The Transformation at the Heart of Biden’s Middle-Out Economic Agendahttps://prospect.org/economy/2023-02-09-biden-middle-out-agenda Why your noncompete clause is probably illegal https://pitchforkeconomics.com/episode/why-your-non-compete-clause-is-probably-illegal-with-attorney-general-bob-ferguson Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer

When did ordinary people come to believe that free market solutions are always better than government intervention? How do we create a future where markets serve democracy instead of stifling it? In this episode we’re talking about the “magic” of the marketplace and the myth that the free market is ruthlessly efficient and always knows best. The co-authors of The Big Myth explain exactly how American business taught us to loathe government and love the free market.Naomi Oreskes is Professor of the History of Science at Harvard University. Her opinion pieces have appeared in the New York Times, the Washington Post, the Los Angeles Times, and many other outlets. Erik M. Conway is a historian of science and technology and works for the California Institute of Technology. He is the author of seven books and dozens of articles and essays.Twitter: @NaomiOreskes, @ErikMConway The Big Myth https://www.bloomsbury.com/us/big-myth-9781635573572The Silicon Valley Bank Bailout Didn’t Need to Happen https://prospect.org/economy/2023-03-13-silicon-valley-bank-bailout-deregulation Website: http://pitchforkeconomics.comTwitter: @PitchforkEconInstagram: @pitchforkeconomicsNick’s twitter: @NickHanauer